Skip to main content

tv   Today  NBC  August 10, 2013 2:05am-3:00am EDT

2:05 am
>> that's sweet. we've got lots of good stuff for you. >> this is such a great birthday. >> in honor of my birthday -- >> this is a big deal. kathie lee is turn -- >> la, la. >> 60! next week. here's what we're going to do next week. every single day we're going to ambush women over 60. specifically looking for women over 60. so come down to the plaza next week. here's the deal. don't show up at 9:30 and think you'll get made over for 10:00. you have to be there like 6:30 in the morning or 7:00, okay? so come early so you can get picked. you'll do a whole makeover all week long. >> now -- i love my birthday show. should i put the hat on? >> and yet another survey why we're doing this on your birthday, i do not know. a new suey asked film lovers what their favorite film was. most of them surveyed said that they were in the -- >> the '80s. >> the '80s were the best decade. they asked us what were our favorite movies of the '80s.
2:06 am
most said they like action/adventure best. kathie's favorites of the '80s. >> "princess bride," which i adored. what a cast. and it was brilliant, brilliant. and the other one was one of the greatest love stories with one of the most gorgeous john berry scores and that was "out of africa." >> unbelievable. >> i have a lot of favorite movies i love "love actually" and "shawshank redemption." if i had to pick two, i love "dirty dancing." >> i liked it very much. >> you didn't love it? >> were you crazy about patrick swayze? >> i loved him. i thought he was sexy and fun. and my other favorite movie which is one that didn't gets lots and lots of traction although -- >> we loved it. >> "dead poet's society." you remember, oh, captain my captain. that was such -- >> carpe diem. seize the day! >> that is the first time i can remember seeing robin williams play a serious dramatic role.
2:07 am
he was so, so good in that. >> favorite kid's movie was "e.t." and i guess it's time for our friday -- >> can i point out, we have a louisiana posse who came. i don't know if they showed up for my birthday or just came because they felt like it but we have louisiana ladies in the house. laura badeaux and her crowd. >> they are here just in time for my friday funny. this joke came from maggie camden on facebook. thank you. a man takes a seat next to a pirate with a wooden leg, a hook and an eye patch. the man says, i have to ask, what happened to your leg. the pirate gets a sad look on his face and begins telling the tale of a fierce sea battle in which his leg was hit by a cannon ball. the man says, that's incredible. is that how you lost your hand, too? the pirate says, no, and starts
2:08 am
telling a different wild tale of swashbuckling sword flight that took his hand. now the man who is by this point transfixed by the captain can't help but ask, and what happened to your eye? the pirate says, well, a flock of seagulls flew over me ship. i turned my head skyward and a dropping fell right in my eye. the man laughs and says, that's not true. you couldn't have lost your eye because of seagull poop. the pirate looks at the man and goes, arg. it was me first day with the hook. i am on fire! >> your friday funnies have been exceptional. >> i want to thank everyone for sending them in. it is time for our baby announcement where we celebrate new moms and adorable new additions to their families. our first johnson's baby is tyler lincoln tarolli born june 15th in syracuse, new york, who weighed 7 pounds, 11 ounces.
2:09 am
his parents steve and carrie are very excited because he just started smiling. >> it's really just gas. next, a little girl names paris ciare love jones was born in cincinnati on june 28th. her parents say that paris loves to make funny little facial expressions and her mom claims she already has the cry of a diva. now lincoln jeffrey petersen born june 21st in reno, nevada. his parents say their little boy loves taking baths. >> and our final johnson's baby is hoda woman kotb. yes, that is her middle name. she was born many, many, many years ago. >> okay. >> august 9th, actually in norman, oklahoma. we imagine she was a sweet baby that came out of the womb dancing with a full head of hair. congratulations to all our
2:10 am
babies. if you want a chance for your baby to appear in our johnson's baby of the week go to for details. i never know what to get you. every year we say we won't give gifts. >> i thought we weren't. >> well, we are. i know how much you love my songs that -- david friedman and i write. so this is your real birthday gift. take a look. ♪ ♪ hoda woman princess of the nile my hoda woman your warmth, your wit your smile ♪ ♪ you're like no other woman no, no one can compare ♪ ♪ who else could compete with those feet those spanx that
2:11 am
hair ♪ ♪ i wanna hoda on your kotb in the back of my jalopy i want to walk you down the street ♪ ♪ show off your size 11 feet don't i know that you're size 10 honey but they're huge ♪ ♪ i want to get you good and loaded till your great big head exploded ♪ ♪ and then i'll spin you in a tizzy and watch the keratin go frizzy ♪ ♪ she eats lots of sweets she dances to some music and she always plays some crappy stupid song ♪ ♪ and somehow you always want to sing long ♪ ♪ men are in love with hoda kotb because it's impossible not to be ♪ ♪ with that fine egyptian body i
2:12 am
want to hoda on your kotb ♪ ♪ because we know you like it's sloppy we think you're really nifty even though you're almost 50 ♪ ♪ happy birthday hoda kotb ♪ it's your heart that really got me let's face it my career was basically through ♪ ♪ till i hooked with you so i'll sing this song for you and lift a glass ♪ ♪ or two ♪ and join with all the rest to say, hoda you're the best ♪ ♪ happy birthday hoda woman we love you ♪
2:13 am
>> i cannot believe -- >> did you like your song? >> i loved it. >> it's going to catch on. >> people love it. but nobody was going yeah, yeah. >> oh, my god. that was spectacular. >> well, thank you. >> thank you. >> that was dorel and amanda who came up to the house last weekend and we did that for you. are they your bff or is it time to move on? when you should shed your friends. >> and more birthday surprises for hodie. >> that's was the best song. >> just under 50 bucks. and what's in the box, bobbie? we'll find out after this.
2:14 am
2:15 am
birthdays are often a time
2:16 am
to reflect. with hoda's 49th today and my -- next week, it's time to think about the people in our lives and who to keep and who to let go. >> we're talking about friends. psychologist dale atkins has this philosophy. some friends come into our lives for a reason, some for a season and some for a lifetime. she's with rena who wrote "upgrade" taking your life and work from ordinary to extraordinary. >> great to see you. >> very special day. >> it is one of those things that often we find ourselves with friends who have been with us for a long, long time and just because of that, they have just been along on the ride and you feel no reason to take them off the ride. right? >> yeah, and i think that sometimes you just have to reconsider. that's what rona is talking about in her book. how we do that reconsidering in the context of time. >> time is your most valuable resource. and once it's gone, it's gone for good. a lot of us don't stop and think about how to allocate our time. we call it the new american
2:17 am
epidemic. we're too rushed, too busy, too many work obligations, family obligations. the time in life is to get rich in time. so there's a systematic way to think about how to allocate your time. only three things to do. have fun, be productive and give back. so if it falls -- >> if your friends don't fall into that. >> if it falls out of those, then -- >> some people have toxic friends who they like, you know, most of the time and then there's like 15% of the time where that person brings you down and they aren't great. >> you have to consider not only how you use your time but what they do to you. it's not just the time you're with them but the time you are spending worrying about them. and is the toxicity something you feel is hurting you or hurting people you care about? and is it turning you into a friend you don't like to be. friendships really need to be reciprocal and you need a sense that it doesn't have to be exactly even but there has to be a reciprocity. >> if you are a person that's growing in life and with a
2:18 am
friend you've had for 30 years that has never, ever had a new thought -- but how do you do it nicely? >> there's a very simple method. i came up with an exercise called rate your friends. just make a list of everyone you are spending time with. and then put one of three marks next to their name. a negative, a zero and a positive. so a negative is someone who is draining you of your energy. they make you feel bad. you feel guilty and they just take, take, take. we all have them in our lives. a zero is someone who neither adds value or takes away but always seems to be texting. hey, i'm bored. a positive is someone you are growing from, learning from, you feel wonderful spending time with this person. go off that list and cross off all the negatives and the zeros. . >> you asked a question about how do you do it? i think first of all, there's no one way because every friendship is different. and every friendship is different. but i think one of the things we
2:19 am
can do is always remember the friendship was in your life for a reason at some point. so you don't need to trash your friend. you want to value the person you want to maintain, the dignity and honor the friendship. >> while you're dumping them. >> and take responsibility. i just can't be the kind of friend that i once was or that you need. and that you want. but i love you. you've been in my life and we can go our separate ways. or you can also have people kind of be different. you don't have to spend so much time with them. they can still be in your life. >> thanks. >> trash them. all right. now that you've decided to keep her, what might you want to get your best friend for her birthday. >> bobbie thomas has all the buzz suggestions coming up after this. eso tired afterward? instead of refueled and focused, you're foggy and sluggish. it's that 2:30 feeling again. so how do you get your clear, alert feeling back? have a coffee... then another? do this instead. take one 5-hour energy.
2:20 am
in minutes foggy and sluggish is gone... hello clear and alert. 5-hour energy. take it after lunch. be clear and alert for hours. >> with hotwire's low prices, i can cross even more places off my travel wish list. this year alone, i hit new york and texas. see, hotwire checks the competition's rates every day so they can guarantee their low hotel prices. >> men: ♪ h-o-t-w-i-r-e, ♪ the baby's in there? yep. how'd that happen? um... [ female announcer ] some things are hard for kids to digest. rice krispies are easy. because they're made of rice, which is gentle on tummies. it's simple as... ♪ snap! crackle! pop! ♪ rice krispies!
2:21 am
2:22 am
2:23 am
it is time for bobbie's buzz. "today's" style editor bobbie thomas shows us all her latest finds. >> she has a special theme since his hoda's birthday. >> i wanted to highlight some items that were girlfriend gift friendly.
2:24 am
blake has what you call frapp. >> runs around like a crazy dog. >> cats have something. this is music for a dog that's been psychoanalyzed. >> and you play it and it -- >> should hit this. >> we have to turn it on. it's been psychoanalyzed and arranged for a dog. you'll play this. it's called the icalm. and this cyrus is a huge fan. there's a picture of a fan of the brand cuddling. and so this might put us all to sleep and it's not party time. >> i like it. >> you are such a music person i thought we could get an iblake playlist going. next this is totally for you. >> i'm sorry. okay. i like it. >> this is called mighty purse. you can run around with your phone. instead of having to have the
2:25 am
huge case, this bag has a built-in charger on the go. >> that's great. >> it's always going dead. >> it's called mighty purse. it's fantastic. and then when you are jogging in the morning, you can actually be safe. so you put this behind your head and it goes on your temples, not your ear becausehat you want to do is keep your ears open so you can hear when someone -- >> and traffic. >> this is through vibrations on your temple. and last, but not least, these are gourmet rice crispy treats from the treat house. this is a great alternative to cake you can ship your girlfriends across the country. >> this looks like a reese's cup, chocolate, peanut butter. >> birthday cake, edible bubble gum. you can get all this on and our new app. country singer brett eldredge performs his hit song
2:26 am
"don't ya." >> do you know who wore this? we'll tell you how to score the clothes actually worn by your favorite country music star. and great things you can find that are just under 50 bucks. >> i love my song. ♪
2:27 am
2:28 am
we are back on this try day friday also known as hoda woman's birthday. with more of "today." if you are like hoda and love country music, then you are in luck. you are about to get the chance of a lifetime to own something worn by some of the most famous country stars in the world. >> the founder of edrop-off kory mcfadden has some of the items about to go up for auction to benefit the disaster relief in oklahoma. >> people love to have stuff that was owned by their stars.
2:29 am
their favorite people. >> and these pieces were worn in some of the best places possible from the red carpet to the voice. so you can actually, you know, strike your own red carpet in this. >> carrie underwood wore this at the cpt awards. it's that light blue. we have laura coming out. laura is wearing the exact, well, it is. it's her outfit. >> this is a george chakra two-piece outfit. she wore it on the red carpet of the 2013 cmt awards. >> that's got to be a size minus 4. >> that's got to be. >> it's a size 2, so it is a smaller piece. but it's absolutely beautiful. and maybe, you know, you can get in the jacket or not the short or the other way around. >> what do you think something like this would go for? >> all the auctions start at $18.99. it will be on auction for ten days. so they get bid throughout the ten days. these pieces are as much as one
2:30 am
is willing to bid for them. >> brad paisley wore the next outfit. let's take a look at his picture. while we're looking, let's look at our -- enter george. step out here. >> the hat or the whole outfit? >> the jacket and all. this is the jacket. he won entertainer of the year at the cma awards in this jacket. it's carrying some good karma with that. but the jacket is great. it's by sand. and, well it was brad paisley's. >> enough said. i like it. nice. it looks comfy, too. >> thank you. next, miranda lambert wore this black chain dress and she performed in this dress, too. it was a beautiful song. and coming out now we have gabrielle. is she going to sing? she's got the mike. are you going to sing? >> i wish. >> you have miranda lambert as your intern. it's pretty amazing. this is by giovani. she wore this to the 2013 acm awards.
2:31 am
>> it's amazing they are parting with these things. that's really great. >> how did you get them from the star? >> i'm friends with carrie underwood and blake shelton's designer. these hold sentimental value to them and to the person who wins it as well. it's a special piece and a great way to raise some money. >> why don't we bring out blake shelton. >> he wore -- what is he wearing? this jacket? or shirt kind of. >> it's a jacket and a shirt. >> well, okay. this is getting really, really bad. i'm going to be in such -- i'm sorry. but tell us about blake's outfit. >> so this is a custom jacket by richie sambora's line chrome and the shirt by sand. so these will be auctioned off
2:32 am
separately. you can probably get that shirt, will that be part of your restraining order? >> i think i'm going to prison. i've got to stop saying his name. it's weird. >> but maybe you can curl up in bed in the shirt. but these pieces will be auctioned off separately and blake shelton wore these on season four of "the voice." >> so cute. >> let's bring all of our lovely models back out. >> we have our own country star here with us. brett eldredge is going to sing a song for us. >> i can't wait. if you need to find the perfect present -- hint, hint -- you can find for under 49 bucks. i'm gonna have to ask you to power down your little word game. i think your friends will understand., it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that?
2:33 am
geico. just a click away with our free mobile app. easo why do you feel exso tired afterward? instead of refueled and focused, you're foggy and sluggish. it's that 2:30 feeling again. so how do you get your clear, alert feeling back? have a coffee... then another? do this instead. take one 5-hour energy. in minutes foggy and sluggish is gone... hello clear and alert.
2:34 am
5-hour energy. take it after lunch. be clear and alert for hours.
2:35 am
2:36 am
if you haven't heard, good things come in packages under 50, just like hoda woman. in honor of her 49th birthday, we called on chasse post. >> happy birthday. >> thank you. >> we scoured the globe, hoda, for gifts for you under $49 and
2:37 am
first to start with the pet lovers, we know you love your furry friend blake. so we thought, why not a custom pet portrait. now kathie lee if you could do the honors and unveil. check this out. custom. >> i know. it's just $49 from this great etsy shop called scottie inspired. send a photo -- >> that is the cutest thing i've ever seen. i cannot stand it. >> and then they create a digital portrait online. they e-mail it to you. you can print it on anything. canvas or paper. >> i love it. >> adorable. >> blake. >> hoda to keep you warm and cozy, we love nothing more than a great throw like this pom-pom throw from c wonder, $49. transforms a room. >> beautiful. i love this color. >> also, kathie lee if you can help me pull this out. >> something weird. >> if you need to stay just a little bit warmer, we have --
2:38 am
>> see, now it's going into weird. >> blake shelton blanket. >> we're stepping into restraining order territory. i'm scared. >> put that on her like the queen she is. yes, yes, watch your little microphone. >> he sent that just for you. >> also $49. >> you don't need those notes. let me have that. >> so we heard a rumor that like most of us, you might enjoy an oreo from time to time. >> yes, i love oreo. >> the chocolate covered company has taken them to the next level. belgian covered dipped oreo. >> she's already in. >> are they great? >> yes, so, so yummy. >> those are good. i'm so glad it's my birthday. oh, my god. >> wrapped in the blanket eating chocolate dipped oreos. i know what you are thinking. why doesn't everyone have their own personal and portable karaoke machine. >> they don't? that's just wrong. >> so perfect to sing "hodie on
2:39 am
your kotb." >> that big hit sweeping the nation. >> by the way, i loved my song at the top of the show. what's next? >> celebrating your birthday louisiana style. the louisiana crawfish company will send you live or boiled crawfish directly from their family farm to your table. $49.99. >> do you know how to eat them? >> take off the little head? >> you squeeze the head. you suck the head and pinch the tail. you suck the head and you pinch the tail. >> delicious. >> you are actually drinking crawfish juice. >> yes. that's what you do. >> i do that with crabs but not crawfish. >> your mardi gras beads, bibs. for $49 you can have a crab fish boil. >> you're so happy. >> i am. >> this is a great, useful gift. i don't know if you've ever
2:40 am
misplaced your keys or wallet. this is called the stick and find blue tooth location tracker. so you put these little stickers on anything, like your keys, and then you download this application. and it's got a radar. >> and it will tell you where it is? >> genius. i love it. >> again, $49. now for that good night's sleep -- >> is this the chillow? >> no. but i love it. this is a sleep therapy pillow called the sound oasis. all you have to do, yep, push play. it has a speaker. >> it plays in the thing? >> isn't that wonderful. >> can we put hodie on your kotb on that? >> you can lull yourself to sleep with that beautiful song all night. >> and last, but not least, for, you know, the woman who has everything you or the person who has everything, why not give a gift that gives back. this is choose from lots of different charitable gifts you can give in hoda's name.
2:41 am
give 400 meals to a -- to families facing hunger. >> that's always the best. >> thank you so much. >> they were all great. thank you so much. all right. a birthday present i'll never return. >> country music star brett eldredge performs a song for us after this. >> good morning and this is your seven-day forecast, the all p n important weekend is here we see a severe threat and more rain spreading to the tennessee valley where we do not need rain, we need a chance to dry out, and more showers throughout the weekend. keep your guard up, flooding can happen quickly on the saturated ground and a threat in the mid
2:42 am
atlantic, into southern virginia and north carolina. temperatures across the east will be at or below average. definitely below average here in the great lakes. 79 in chicago, 86 for new york city and sunshine and drier air. 106 in the phoenix area. rain in the southeast, we are clearing out in the northeast and we have more showers associated with that higher terrain of colorado and into new mexico and arizona. temperatures holding on to the heat across the desert southwest and hot weather in texas not as bad as it was earlier in the week. and the start of the next work week dries out in the west and we need rainfall here with the wildfires burning in places like southern california, it remains dry, we are in 80 in chicago and by tuesday, trough remains in the east and cold front drapes through this area, that will keep showers in the southeast
2:43 am
and spreading back to the north east, wednesday, not much improvement in the southeast. we have 70s around the great lakes on thursday and up to 98 in salt lake city. it has been a hot summer for you. we dry out in the central plains and missouri, a long stretch of dry weather. you can get your latest weather and forecasts right here, wake up with al at 5:30. easo why do you feel exso tired afterward? instead of refueled and focused, you're foggy and sluggish. it's that 2:30 feeling again. so how do you get your clear, alert feeling back? have a coffee... then another? do this instead. take one 5-hour energy. in minutes foggy and sluggish is gone... hello clear and alert. 5-hour energy. take it after lunch. be clear and alert for hours.
2:44 am
yep. how'd that happen? um... [ female announcer ] some things are hard for kids to digest. rice krispies are easy. because they're made of rice, which is gentle on tummies. it's simple as... ♪ snap! crackle! pop! ♪ rice krispies!
2:45 am
the toyota concert series on "today" brought to you by toyota. >> he's open forward brad paisley, willie nelson, taylor swift and blake shelton. and now three years after his first single, brett eldredge is debuting his first album called "bring you back." and it includes a single in the top five of billboard's country charts. >> if you need a little extra
2:46 am
reason to listen to country music, just look at him. just look. brett eldredge was voted one of the hot guys in 2013 in "people" magazine's country edition. nice to meet you. >> well, well, well. >> that's crazy. i don't know what to say about that. >> you are having a big year. >> it's been fantastic. >> it beats what you were going through in obscurity, doesn't it? >> it's been a journey to get here. it's a crazy business. i've been having a lot of fun. i've got these guys in my band here sticking behind me. >> it had to be hard to narrow down. you had like 30 songs you love and had to narrow it down to 12. >> he wrote like 300. >> i've probably written 300. the best ones that stick out are the really ones that feel like they should fit on this record. i've got 12 songs i can look back in 20 or 30 years and say i wouldn't change one song, and that's what i want to do. >> are they based on like personal experience? >> yes, several. >> where do you get your material? what happened? >> lots of things. did you live a juicy life or were you in rehab or something? >> no, it's more like heartbreak. >> somebody broke your heart?
2:47 am
who did that? what was her name? >> i can't do that. >> shame her. just say a first name. she knows who she is. >> what are you going to play for us? >> i'm going to play "don't ya." >> of course. >> we're really happy for you. >> brett eldredge! ♪ ♪ girl you cut those jeans just right i know you didn't buy 'em like that so baby don't even try that ♪ ♪ you dance oh, you move like there ain't nobody watchin' ♪ ♪ but girl you know i'm watchin ♪ ♪ don't lie you've got it all figured out ♪ ♪ that smile has got me spinnin' around don't even try actin'
2:48 am
like it ain't no thing ♪ ♪ cause i can see you move a little closer, closer ♪ ♪ girl i gotta get to get to know you know ya ♪ ♪ everything about ya makes me want ya, want ya know you're doing baby don't ya, don't ya ♪ ♪ you've been looking over here all night when i look you, you look away ♪ ♪ oh, i love the little games you play ♪ ♪ i bet you didn't mean to brush my hand when you walked by me like you didn't mean to drive me crazy ♪ ♪ don't lie you've got it all figured out ♪ ♪ that smile has got me spinnin' around ♪ ♪ don't even try actin' like it ain't no thing ♪ ♪ cause i can see you move a
2:49 am
little closer, closer ♪ ♪ girl i gotta get to get to know ya, know ya ♪ ♪ everything about ya makes me want ya, want ya ♪ ♪ don't ya ♪ let me get out of here and let me show ya how good it would feel to hold ya ♪ ♪ put your pretty little head on my shoulder oh, yeah don't lie ♪ ♪ you've got it all figured out that smile got me spinnin' around ♪ ♪ don't even try actin' like it ain't no thing ♪ ♪ no, don't lie you got it all figured outhat smile has got me spinnin' around ♪ ♪ don't even try actin' like it ain't no thing ♪
2:50 am
♪ cause i can see you move a little closer, closer ♪ ♪ girl i got to get to know ya, know ya ♪ ♪ everything about ya makes me want ya, want ya ♪ ♪ know what you're doin' baby don't ya, don't ya ♪ we'll be right back with more of "today" on nbc.
2:51 am
2:52 am
2:53 am
2:54 am
♪ it's your birthday we're going to party like at your birthday ♪ >> that's my kind of birthday song. >> back with country music singer brett eldredge who just performed. >> you were awesome. >> we've had a fun time celebrating hoda's birthday. >> i got you a special surprise. not that you didn't see these. i have carried these all around new york city. they are giant sized but they're awesome. >> thank you. >> you are awesome. >> happy birthday. >> and i got for blake, you know, i know you named him after blake shelton. they don't come in booze flavor but they are -- >> thank you. >> peanut butter and jelly flavored biscuits.
2:55 am
>> hoda will not share them with blake. she will eat them. >> that was really cool. >> if it's sweet, she'll eat it. >> hoda, we all lift our glass to you. >> look at blake on the cake. >> come on in, you guys. >> it's an absolute joy to -- >> come on in. >> shush for a second. absolute joy to come in every single day knowing that i'm going to spend such unbelievable time with you. i've grown to love you like a sister. we all adore you. nobody works harder. nobody makes everybody feel better than you do, hoda. you are a beautiful, beautiful example of a shining life. and we love you. we lift a glass to you and say happy, happy birthday. >> i love you. and thank you for my song. for both songs. for the one you gave me and kath. >> everybody! ♪ i want to hoda on your kotb it is taking the country by storm. >> next week, country music singer luke bryan is going to be here.
2:56 am
>> from "duck dynasty" we'll finally get hoda a date. >> that's rude. >> bye-bye now. >> plus -- >> bye-bye. ♪ and join with all the rest to say hoda, you're the best ♪ ♪ happy birthday hoda woman we love you ♪ my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to try help you find it. "mad money" starts now. hey, i'm cramer.
2:57 am
welcome to "mad money," welcome to cramerica. other people want to make friends. i'm just trying to make you a little money. my job is not just to tertain but i'm trying to teach and coach. so call me at 1-800-743-cnbc. every time you think you've seen it all, every time that we're -- we thought there can't be any more scandals as bad as the last one or chicanery that can top the most recent travesty, well, wall street comes up with a new one that can if you're not protected make you feel like it's just not worth it to be involved in our beloved stock market. i can't tell you how many times i've come out here on days when there's bad news involving ipos or machine glitches or insider trading or flash crashes and say to myself how can people take this anymore? the abuse! the answer -- frankly, there's really no other choice. you simply can't make enough money in any other asset class, particularly bonds where the
2:58 am
rates are so, so low. to be able to retire or take that trip you want, pay for tuition, bonds can't take pay that tuition. you've got to own stocks. you know what you need, though. you need a survival handbook. and that's what i'm giving you tonight. scandals not new to wall street, i looked through the insider trading scandals of the 1980s. stock markets mechanisms haven't always been smooth. the '87 market crash, you know i traded through that. that reaction had much more to do with machines going wild than anyone remembers. it didn't have anything to do with the economy. it looked like the economy was going to get weak because of the crash. it didn't, it was strong. that said, we do seem to have really ratcheted up the unfairness in the last couple of years. and i don't just mean the economic fallout of the great recession. who could forget, for instance, the hideous event that was the long-awaited facebook fiasco? may of 2012. now this was a once in a lifetime opportunity to bring people back to the stock market who fled. a company that has a billion users is coming public. the company had a sterling
2:59 am
reputation, a love product, the management quirky. but no more quirky than google where you could have made a ton of money over the years. everyone in it had gotten rich and the company had tons of money on hand. it wasn't like they needed to be greedy. it would have been an unbelievable moment to price the deal reasonably so everyone won. nope, they offered 421 million shares at $38 a piece. a price they knew was the top end of the range especially given last-minute chatter that the company was being challenged by the move from desk top to mobile. by the way, something that turned out to be totally true. and the deal flops in an outstandingly horrible way. making matters worse, the nasdaq, the exchange of facebook became public on couldn't get the stock open. and when it did, the deal fell apart before our eyes. no one could even sell it. combination, total chaos, confusion and overvaluation. a classic opportunity to bring people back to the stock market was botched. and we had still one more event that drove people to the sidelines.


info Stream Only

Uploaded by TV Archive on